1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Musya8 [376]
3 years ago
13

During Year 1, Hardy Merchandising Company purchased $20,000 of inventory on account. Hardy sold inventory on account that cost

$15,000 for $22,500. Cash payments on accounts payable were $12,500. There was $20,000 cash collected from accounts receivable. Hardy also paid $4,000 cash for operating expenses. Assume that Hardy started the accounting period with $18,000 in both cash and common stock.
Required:
a. Identify the events described in the preceding paragraph and show them in a horizontal statements model. The first event is recorded as an example.
b. What is the balance of accounts receivable at the end of Year 1?
c. What is the balance of accounts payable at the end of Year 1?
d. What are the amounts of gross margin and net income for Year 1?
e. Determine the amount of net cash flow from operating activities.
Business
1 answer:
Veronika [31]3 years ago
5 0

Answer and Explanation:

a. The events described should be shown in the attachment below;

b. The balance of account receivable at the end of year 1 is $2,500

c. The balance of account payable at the end of year 1 is $7,500

d. The amount of gross margin and net income is

Gross margin = $22,500 - $15,000 = $7,500

Net Income = $7,500 - $4,000 = $3,500

e. The amount of net cash flow from operating activities is $3500

You might be interested in
Grading the performance of minority group members by using lower standards and a patronizing attitude is called
postnew [5]
In my opinion, it is called subtle discrimination. Unlike blatant discrimination, which consists in openly humiliating a member of a minority based on their personal traits, subtle discrimination is much more perfidious, as it is not always easy to point finger at it or to legally assess it. Sometimes, it even happens as a consequence of seemingly good intentions. For example, if I use lower standards to grade Afro-Americans in a class of mixed students, it still means I assume they are less capable or educated, even if I do it because I know that they had been oppressed and had historically had less chance to educate themselves.
8 0
3 years ago
Tickets to a concert are $35 each. In addition to the cost for the tickets ordered, there is a $15 processing charge per order.
Vesnalui [34]

Answer:

Explanation:

Let the cost of an order = C

Let the number of tickets inside that order = n

Let there be a 15 dollar service charge per order.

================

C = 35*n + 15

5 0
3 years ago
Understanding the legal ramifications what types of policies should organizations implement when using social media tools for re
Tasya [4]

Answer:

Social media is a vital tool for online recruitment in the large MNCs now-a-days.

Explanation:

In the recent, there is a trend of recruiting the new professionals through various online platforms and other social media tools.

With social media many legal consideration comes into account. The organizations while handling social media tools for recruitment has to look on various important points while posting their advertisement and collecting the data of the candidates online. There are severe legal ramifications on using social media in a wrong way, so organization have to be ethical while using them.

  • Firstly, they should respect the privacy of the social media communities.
  • Professionalism and rules of ethics should be applied.
  • They should respect the copyright laws.
3 0
3 years ago
Consider a portfolio comprised of four risky securities. Assume the economy has three states with varying probabilities of occur
olga nikolaevna [1]

Answer:

B. The portfolio expected rate of return must be the same for each economic state.

Explanation:

Variance formula = sum of (probability x (r - mean)^2)

r= expected return

if the expected return would be same for each economic state then the mean would equal to expected return which ultimately will give variance zero ( as r-mean would be 0).

Hence the correct option is B. The portfolio expected rate of return must be the same for each economic state.

8 0
3 years ago
A number of things organizations can do prior to change to prepare employees include which of the following?
natulia [17]

Answer:

The correct answer is Allow employees to particpate.

Explanation:

Following a strategy in which employee participation is promoted does not imply that all problems are delegated to them, or rather unimportant problems; It consists in the active intervention of workers when identifying, analyzing and solving problems that make it difficult to achieve business objectives. It is important that employees get involved in the challenges of the organization to which they belong, and in the same way that they feel satisfied by a positive performance, they must also be aware and persistent in the face of adverse situations that affect the performance of the company.

6 0
3 years ago
Other questions:
  • Electronic cover letters should still follow a business letter format, even though e-mail is a less formal type of communication
    9·2 answers
  • Economists refer to the relationship that a higher price leads to a higher quantity supplied as the
    14·1 answer
  • PLEASE HELP ME ASAP PLEASE!!!!
    11·1 answer
  • What is it called when you are able to touch and feel a product?
    10·1 answer
  • You purchased 100 shares of stock for $78 per share. You sold the stock four years later for $92 per share. What is your gain af
    7·1 answer
  • What is common stock ? in your own words. ​
    6·2 answers
  • HELP
    12·1 answer
  • Xavier needed a new business credit card. After evaluating many choices, he decided to sign up for an American
    11·1 answer
  • The Coca-Cola Company uses a job-order costing system. True or False: Job-order costing uses the actual direct materials cost of
    7·1 answer
  • ______ management refers to the activities related to planning for, attracting, developing and retaining an effective workforce.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!